Time to buy in Spain, buyers advised

Now is a good time to buy homes in Spain because the market has seen larger price falls than elsewhere in Europe, it has been suggested.

A Daily Telegraph feature on making pounds stretch further in the eurozone recommended the country due to the decline in the cost of property there.

The paper cited the advice of Miranda John from mortgage broker Savills Private Finance, who said that those taking out a euro mortgage could benefit, as improvements in the value of sterling would make the mortgage cheaper to pay.

She advised that people looking to take out a mortgage in the eurozone should see a mortgage specialist to check if a euro mortgage is the best option for them.

Britons have been able to secure many discounts on Spanish property recently.

Guildford couple Simon and Donna Jordan managed to get a €275,000 (£238,000) home near Marbella reduced to €155,000 by buying at the right time and negotiating well, the Times reported.

Mr Jordan said: "We are very pleased. We cannot believe it has really happened."